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oil pressure problem in 89 chevy 5.0 engine?

i bought an 89 chevy camero at a good price knowing it needed work. my problem at this time relates to oil pressure. when the engine is cold at start up it shows 30 pounds pressure but as soon as temp.comes to normal guage 0 i don't experiance knocking or tapping noise but think maybe the oil pump may be going out. please advise
thanks phil
phil bebo, July 2005
time to replace motor .....or rebuild make sure to replace cam bearings too.

bg, October 2005
the crankshaft main bearings may be getting worn,also the camshaft bearings.When the oil warms up it will move threw the worn areas more easly.And yes the oil pump can be worn.Plasticgauge is the only way to tell how much wear there is on the bearings.

farmerjr, July 2005